https://www.taxtmi.com/news?id=14265 Compounding under FEMA permits voluntary admission of breaches (except section 3(a)) and settlement by payment after submission of the prescribed application, supporting documents and fee. The Reserve Bank classifies contraventions as technical, material or sensitive; technical cases may receive cautionary advice, material cases are compounded by imposing a penalty following opportunity for personal hearing, and sensitive cases are referred for investigation. Payment of the compounding sum yields a compliance certificate and bars further proceedings in respect of that contravention. en-us Tue, 31 Mar 2015 16:47:36 +0530 Tue, 31 Mar 2015 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14265 Compounding under FEMA permits voluntary admission of breaches (except section 3(a)) and settlement by payment after submission of the prescribed application, supporting documents and fee. The Reserve Bank classifies contraventions as technical, material or sensitive; technical cases may receive cautionary advice, material cases are compounded by imposing a penalty following opportunity for personal hearing, and sensitive cases are referred for investigation. Payment of the compounding sum yields a compliance certificate and bars further proceedings in respect of that contravention. News - Tue, 31 Mar 2015 16:47:36 +0530 https://www.taxtmi.com/news?id=14265